Greenland Energy shares surged 153.3% to approximately $3.04 in Monday’s premarket trading after President Donald Trump announced a security arrangement involving the United States, Denmark and Greenland. The company’s exploration footprint is in the Jameson Land Basin, where it has outlined two exploratory wells and could secure up to a 70% working interest. The area has been associated with estimates of up to 13 billion barrels of oil, although those figures refer to potential resources rather than confirmed commercial reserves. The rally was largely speculative: the pact provides no direct funding, drilling authorization, offtake agreement or guarantee that Greenland Energy’s assets will become producing properties. The company remains unprofitable and has not generated positive cash flow. Market interest was also supported by a proposed all-stock merger with 80 Mile PLC, first disclosed in September and referenced in a new United Kingdom takeover-regulation dealing disclosure. The security agreement is expected to be signed at the upcoming United Nations General Assembly, but its full text has not been released. Greenlandic and Danish officials have said the arrangement preserves Greenland’s sovereignty and territorial integrity, while Greenland remains an autonomous territory within the Kingdom of Denmark.